Pics: Nayana J C
Daijiworld Media Network - Mangaluru (NJC)
Mangaluru, Oct 30: In a significant development for Mangaluru's business and technology landscape, Mukund Realty on Friday announced its acquisition of the iconic Infosys Tech Park at Kottara Chowki, marking a new chapter in the city's growth as an emerging technology and business destination.
The announcement was made at a press meet held in Mangaluru on Friday, where the Mukund Realty managing partners Gurudatta Shenoy, Mahesh Shetty and Mangaldeep A R were introduced. The occasion also witnessed the unveiling of the company's identity signage and branding at the iconic property, formally marking Mukund Realty's association with the landmark building. The unveiling was done by Chandrashekar G, general manager of the credit department at Karnataka Bank, in the presence of Harisha A, assistant general manager of Karnataka Bank.
The acquisition includes approximately 2.75 acres of land, the building and all associated assets. Describing the move as more than a real estate transaction, the promoters said it was an investment in Mangaluru's future, aimed at strengthening its business infrastructure, attracting major companies and creating employment opportunities for local talent.
Speaking at the press meet, managing partner Gurudatta Shenoy said the acquisition was closely connected to a long-standing dream shared by the three promoters, who come from engineering backgrounds. Recalling how they had grown up aspiring to work in established technology campuses, he said acquiring the property was an opportunity to contribute something meaningful to the city that shaped them.
He pointed out that Mangaluru has more than 200 IT companies and produces over 40,000 graduates every year. However, the shortage of large-scale employment opportunities has resulted in many skilled professionals moving to other cities. He stressed that developing quality infrastructure was essential to retaining local talent and encouraging professionals who had moved away to return to their hometown.
Highlighting the property's significance, Shenoy said the building, constructed around 2000, had become an iconic landmark associated with Mangaluru's technology sector. Its recognisable architecture and longstanding identity had inspired the promoters to take forward the vision of transforming the property into a significant business destination.
He also spoke about the company's experience in developing managed workspaces. Following the launch of Vertex Workspaces in 2021, the company expanded its operations to seven premises, providing around 5,500 workstations and supporting more than 55 corporate clients. He said the growing demand from multinational companies, particularly for large facilities with capacities of 1,000 or more seats, had prompted the company to explore the acquisition of the Kottara property.
Clarifying the roles of the two brands, Shenoy said all real estate-related activities, including land acquisition, construction, development and modifications, would be undertaken under Mukund Realty, which would also retain ownership of the property. Vertex Workspaces, a fully owned subsidiary of Mukund Realty, would handle workspace operations and rental management.
He further emphasised that the company's vision extended beyond generating employment. The objective was to contribute to Mangaluru's overall development without creating inconvenience for the local community. He said the company wanted to support professionals returning to the region in search of better career opportunities and a quality of life that would allow them to spend more time with their families.
Referring to the collective efforts of organisations such as the Kanara Chamber of Commerce and Industry (KCCI), CREDAI and workspace providers, he said collaboration was essential to advancing the city's economic interests.
"We have a responsibility to grow and also to protect our ecology, environment and the interests of the city. We want to grow responsibly and sustainably, and we seek everyone's support," he said.
Founded in 2014, Mukund Realty has delivered 14 projects and served around 800 clients through its real estate ventures. Its projects include Ajanta and Ashoka Business Centres, while Vertex Workspaces has emerged as a major managed workspace provider in Karnataka beyond Bengaluru.
The company said it is currently exploring development and operational possibilities for the newly acquired Kottara property, with further details to be announced once the plans are finalised.
The acquisition is expected to open new possibilities for Mangaluru's business ecosystem, strengthen its ability to attract large enterprises and create a stronger foundation for local professionals to build their careers without having to leave the city.